with FOX Business, Larry Fink was asked if one can start an ETH ETF even if ETH is designated as “security.” To which he answered,“Just reading b/w lines & speculating, sounds like SEC seriously trying to classify eth as security.That said, Fink says SEC could still allow spot eth ETF post-security classification.”
Another source of confusion regarding the ETH ETF approval is the addition of “staking” in recent amendments by potential issuers. “As a result of any staking activity in which the trust may engage, the trust expects to receive certain staking rewards of ether, which may be treated for federal income tax purposes as income to the trust.”However, these trends are confusing given the SEC’s stance on staking, as seen during the Kraken lawsuit in 2023.
“When investors provide tokens to staking-as-a-service providers, they lose control of those tokens and take on risks associated with those platforms, with very little protection.”“To nudge the SEC, hope squeaky wheel gets grease. And, I respect the hustle but I just think SEC’s mind is decided on this.”However, Fink’s positive inclination toward approval, even if ETH is classified as a “security,” is worth noting. If Fink’s stance pans out, we might eventually have an ETH ETF either way.
Source: Digital Coin News (digitalcoinnews.net)
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